reports
- Pedro Fonseca
Bloc Ventures - Termination of coverage
Edison Investment Research is terminating coverage on Mercia Asset Management (MERC), Bloc Ventures (unlisted), YOC (YOC.DE), Genuit Group (GEN), AlzeCure Pharma (ALZCUR), abrdn Latin American Income Fund (ALAI), Magforce (MF6), OPG Power Ventures (OPG) and paragon (PGN). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant.
- Pedro Fonseca
Bloc Ventures - Demand for deep tech unhindered by downturn
Following the exits of Marmalade and EVRYTHNG in 2021, Bloc’s FY21 NAV/share rose 7% y-o-y to £25.30. Bloc has now delivered a FY18–21 NAV/share CAGR of 19% and a portfolio IRR of 25% since inception. In Q122, incorporating a successful Series A round for Pharrowtech, NAV/share rose a further 9% to £27.51. In FY21, Bloc strengthened its team and processes with new hires. In FY22, management is raising a Series B extension round, having postponed a larger Series C funding round until market condi...
- Richard Williamson
Bloc Ventures - Two tech exits and new funds being raised
Since we initiated in September, Bloc has exited two portfolio companies at a premium to holding value, Marmalade (a games developer, sold to LDC for a 4.8x cash return) and EVRYTHNG (an internet of things, IoT, data and real-time insights platform), acquired for an undisclosed price. Bloc has also made a new investment, Shield-IoT (large-scale IoT network security), taking its portfolio to 10 companies. Bloc has strengthened its team and governance with new hires and is actively raising a Serie...
- Richard Williamson
Bloc Ventures - Two tech exits and new funds being raised
Since we initiated in September, Bloc has exited two portfolio companies at a premium to holding value, Marmalade (a games developer, sold to LDC for a 4.8x cash return) and EVRYTHNG (an internet of things, IoT, data and real-time insights platform), acquired for an undisclosed price. Bloc has also made a new investment, Shield-IoT (large-scale IoT network security), taking its portfolio to 10 companies. Bloc has strengthened its team and governance with new hires and is actively raising a Serie...
- Richard Williamson
Bloc Ventures - Expert-led play on early-stage deep tech
Bloc Ventures is a London-based venture capital (VC) company that has built its reputation in UK and European deep tech, focusing primarily on cloud, data, connectivity and security for telecoms and computing applications. Bloc has built a portfolio of 11 investee companies, aiming for two to four new balance sheet investments a year from 2021. It delivered a 59% NAV/share gain in FY20 and is targeting a 20%+ IRR over the long term. Since we initiated in September, Bloc has exited two portfolio ...
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